GM39;s Q3 adj. EPS of 2.96 exceeds estimates of 2.43
China operations to be restructured; lost 137 mln in Q3
To offset softer pricing next year with cost cuts on SUVs, EVs

DETROIT, Oct 22 Reuters General Motors again surpassed Wall Street39;s expectations this year, as its thirdquarter results benefited from lean inventories and a steady demand for gasolineengine truck and SUV, sending its shares up about 7.6 in early trading.

GM is targeting annual earnings at the top end of its prior forecast, and Chief Financial Officer Paul Jacobson brushed off economic concerns for customers.

The consumer has held up remarkably well for us, he told reporters on Tuesday, while predicting better demand next year from cuts to interest rates.

GM started the year expecting to make 12 billion to 14 billion in pretax profit and raised the forecast in midyear to 13 billion to 15 billion, buoyed by strong pricing and consumer spending.

The company said on Tuesday it was on track to deliver between 14 billion and 15 billion in pretax profit.

GM39;s adjusted earnings per share of 2.96 for the quarter outpaced market expectation of 2.43, while revenue of 48.8 billion beat estimates of 44.6 billion.

CEO Mary Barra has been focusing on stability, saying earlier this month that GM39;s profit next year is expected to look similar to this year, a relief for investors who were worried about a potential decline in the auto industry39;s earnings.

GM has said pricing could be softer next…